ISM Services Shows Resilience in Demand, Supply Remains a Challenge

Source: Economics Group of Wells Fargo Bank, N.A.

Summary

Service-sector activity expanded at the fastest pace in four months according to the ISM services index. The underlying details point to services resilience with business activity and new orders notching their highest reading this year. Supply challenges are easing, but hiring remains a challenge for employers.

Most Components Moving in the Right Direction

The ISM services index rose 0.2 points in August to 56.9, marking the fastest pace of expansion in the sector in four months (chart). Most of the underlying components of the survey moved in the right direction and the headline index was buoyed by a pickup in business activity and new orders. READ FULL ARTICLE>>